Big Losses Drown Out Small Wins
The title of this post perfectly sums up my trades today. I managed to scalp / swing trade a number of UK horse racing events successfully and it felt great. I was consistently making £4-16 pre-race for my first 4 races of the day. Cue race number 5….
Despite trading on the second favourite, I saw on the race video that the favourite was playing up a lot pre-race. It’s odds shot from 4 to 8 in seconds. Not wanting to miss out on a “great value bet”, I backed the favourite for £200 at 8. Almost instantaneously, the race began (much quicker than I expected!) and the favourite continued to drift very quickly.
Through some act of god, I managed to trade out the majority of my liability a few ticks up but I was left with a £45 loss because of this mistake. I said a quick goodbye to my profits that I was so happy to have made earlier on in the day.
To end the post on a good note, here’s a race I had a lot of fun with pre-race and came out with an £11 profit.